Updated Dec 4, 2024
Associated Bank Funds $25.4M Construction Loan For Bridge Point I-55 Commerce Center
775 Independence Boulevard
$25,400,000
$87/SF
Building Size
292,054 SF
Asset Type
Industrial
Closing
Jul 12, 2024
About this deal
AI
The property at 775 Independence Boulevard in Romeoville is the site of Bridge Point I-55 Commerce Center, a 292,054-square-foot industrial project developed by Bridge Industrial. The project comprises two buildings with 68 exterior docks and 330 car parking stalls.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,400,000
- Address: 775 Independence Boulevard
- Market: Romeoville
- Lender: Associated Bank
- Landlord: Steve Poulos - Bridge Industrial
- Brokers: Adam Roth & Daniel Leahy - NAI Hiffman
Associated Bank provided a $25.4 million construction loan for the Bridge Point I-55 Commerce Center project. The industrial development is set to be completed in July 2025 and is currently being marketed for lease by NAI Hiffman.
On the Map
$25,400,000
$87/SF
Industrial
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Players
Romeoville Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93